Carolyn Schwab-Pomerantz, a director at Schwab Charles Corp (NYSE:SCHW), has recently sold shares of the company. According to a recent SEC filing, Schwab-Pomerantz sold a total of 9,000 shares on December 16, 2024. The transactions were executed at prices ranging from $79.2778 to $79.2876, amounting to a total value of approximately $713,535. The sale price aligns closely with InvestingPro's Fair Value assessment, with the stock currently trading at $76.74 and showing a market capitalization of $140.6 billion.
The sales were conducted through a Rule 10b5-1 trading plan, which had been adopted on November 10, 2023. Following these transactions, Schwab-Pomerantz holds various shares indirectly, including 1,603,193.6599 shares by trust and 544,129 shares by her spouse as trustee. Additionally, she directly owns 8,162 shares and indirectly owns 2,798 shares through an LLC.
These transactions reflect Schwab-Pomerantz's ongoing management of her holdings in Schwab Charles Corp, a company engaged in the securities brokerage and financial services industry. According to InvestingPro, the company maintains a "GOOD" overall financial health score, with analysts setting price targets ranging from $65 to $95. Get access to 6 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Charles Schwab (NYSE:SCHW) Corporation reported strong November metrics, with core net new assets reaching $28.8 billion, a 17% rise from the previous month. Total (EPA:TTEF) client assets increased by 4.6% to $10.31 trillion, and new brokerage accounts grew by 7.9% to 357,000. The company revised its full-year net revenue growth forecast to between 3.0% and 3.5%, up from the previous 2.0% to 3.0% range.
Analysts at TD Cowen responded positively to the revised revenue guidance, suggesting a fourth-quarter estimate slightly higher than the consensus. However, they noted that asset flows and month-over-month cash accumulation did not meet their expectations. Citi analysts observed robust trading activity and margin balance growth but noted that net new assets were below projections.
In other developments, Barclays (LON:BARC) analyst Benjamin Budish upgraded Charles Schwab's stock from Equal Weight to Overweight and raised the price target to $95, reflecting a positive outlook on the company's ability to reduce debt and improve cash balances. Furthermore, a leadership transition is underway at Charles Schwab, with CEO Walt Bettinger set to depart and Rick Wurster to assume the role in January 2024. These are recent developments for Charles Schwab Corporation.
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